Compensation and Benefit Strategies Recommendation
Altamise Leath, Brooklyn Martin, James Ritchie, Larrissa McBride, Murooj Ibrahim,
Tera Mansfield
HRM/531
September 24, 2014
Karin Wagner
Compensation and Benefit Strategies Recommendation
Landslide Limousine, a small business in Austin, Texas has hired Atwood Consulting to conduct a market evaluation and provide a recommendation for the following: a business evaluation, compensation structure, total compensation and benefits strategy, and performance incentives and merit pay to recognize and engage employees. In current businesses, different types of resources are used to achieve company goals and strive in the marketplace. None of the other resources is as difficult to control as a human resource. Individuals are very needy and materialistic. They usually require benefits and need compensation for their work rendered.
For some managers, this might make it hard to control and maintain an unwavering workforce. Because companies offer benefit packages and compensation to their employees. Landslide Limousine is no exception to participate in the transportation marketplace they must maintain their employees and keep skill personnel.
Market Evaluation and Compensation Structure
On the interpretation of tight competition, hiring qualified and experienced limousine drivers in Austin, Texas for a small start-up business is challenging. Austin has a large number of competing limousine companies operating in or near the Austin area. The overwhelming number of competing companies in Austin creates a number of issues when it deals with human resources. Among the problems one could expect in this business is high employee turnover because too low wages. Another factor to consider is the tightening of the US job market in current years. The number of qualified applicants is decreasing as the US economy improves and employment in US job market pick-up.
The Bureau of Labor Statistics published...